The Bucharest office market is showing early signs of recovery, driven by a visible increase in pre-lease transactions, highlighting renewed occupier appetite for future office spaces. As tenants secure their leases well in advance, the current development pipeline exceeding 215,600 sqm, the highest level in recent years, is expected to be gradually absorbed, according to data from Cushman & Wakefield Echinox.

The modern office stock in Romania's main regional cities totals approximately 1.08 million sqm, with developers delivering no new projects in these markets over the past two years, according to a new report by Cushman & Wakefield Echinox.

Companies leased 197,200 sqm of office space in Bucharest in the first nine months of the year, with over half representing new demand. The total transacted volume during the period is 25% lower compared to the corresponding period last year, but in the context of a year without any new office deliveries, the vacancy rate dropped to 12.8%, the lowest level since Q4 2020, according to Cushman & Wakefield Echinox.

Companies have contracted office spaces for over 7,000 new employees in the first half of 2025, with new demand totaling 64,300 sqm on the Bucharest market, according to a report by Cushman & Wakefield Echinox.

Nearly 40% of office occupiers are mandating a hybrid work model, requiring employees to be in the office 2-3 days per week, according to a new report from Cushman & Wakefield.

The office space market across CEE experienced a slowdown in demand during Q1 2025, with less than 30,000 sqm of office space delivered across the region, according to Cushman & Wakefield Echinox. 

Companies in IT, manufacturing, industry, and the medical and pharmaceutical sectors were the most active in Romania's office rental market over the past five years, generating over half of the demand for new space.

Close to 80% of the office stock is at risk of obsolescence in markets such as Amsterdam, Paris and London, while in CEE-based capital cities this figure stands at an average of 43%, according to a report by Cushman & Wakefield Echinox.

The volume of office leasing in Bucharest amounted to 168,000 sqm during H1 2024, down 11% compared to the same period of last year, with the average new lease deal at more than 1,100 sqm, according to Cushman & Wakefield Echinox. 

Companies leased 91,000 sqm of office spaces in Bucharest in Q1, up by 63% compared to the same period of last year, according to a Cushman & Wakefield Echinox report.